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Chainlink

$LINK/BTC 3D (#BinanceSpot) Falling wedge breakout and retestChainLink has pulled back to 50MA support where we expect it to bounce and resume bullish mid/long-term. chain.link smartcontract.com Current Price= 0.0005195 Buy Entry = 0.0005207 - 0.0004873 Take Profit= 0.0006337 | 0.0007641 | 0.0009214 Stop Loss= 0.0004173 Risk/Reward= 1:1.5 | 1:3 | 1:4.81 Expected Profit= +25.73% | +51.61% | +82.82% Possible Loss= -17.20% Fib. Retracement= 0.382 | 0.5 | 0.618 Margin Leverage= 1x Estimated Gain-time= 7.5 months
Long
by TradingOn
1
LINK aiming to retest $23LINKUSD is currently trading around $22.70, up 5.5%, above average when compared to BTC and most of the altcoin market. We have now completed what appears to be a nicely formed W pattern on the 1h/2h/4h charts. Forming since yesterday, it confirmed earlier today as the European markets opened several hours ago after retesting the $22, which aligns perfectly with the lower market support band (20w ema low). Our last major move was the rejection of the upper market resistance band at $28-$29 (FIB golden pocket & 20w ema high), followed by a failure to hold the the bull market bands (20w ema / 21w sma) as we came back for the retest. Let's look at the longer timeframes, measuring out probable direction using Fibonacci based Gann fanns. Market makers appear to want to retest $23 today, which would get us back over the critical 50h ema. If rejected there, we know we're in for at least a second retest of the $22 levels, but more likely even lower since a failure there would indicate the current W pattern has failed so market makers want to bring the price lower. If accepted and we push through $23 and hold through 2 or 3 4h candles, I believe we could see a continuation towards $24.50 - 25.50 range, for a retest of the bottom side of the bull market support bands about 10% higher from our current levels. No matter, I expect a retest of the $23 before we know with a high level of confidence that the current movements are supporting a larger move to push back through the key moving averages and re-initiate a sustained multi-week trend to the upside (ending the multi-week trend to the downside). If we don't come back for a retest now, trade carefully, it's possible this push is nothing more than market makers working to get better prices for a short play they'll execute sometime over the weekend or early next week. If we can continue to push higher, we might have a similar situation play out with the Bollinger Bands as we have seen in the past where once we touch the upper band, we continue to ride it closely, pushing it higher and higher for many consecutive (30+ days) before being squeezed back down. Summary: Major areas of resistance within immediate reach are at $26.5 (VPVR volume peaks / interest) and $28 (FIB golden pocket), which we must overcome and turn into support before we can move higher. On the downside, $22 has acted as strong support for the past week, which aligns with both the major areas of interest (VPVR) and a key moving average (lower support band, mentioned before). If we come back for a third test at $22, there is a high probability the market continues to favor shorts. A quick look at the Heikin-Ashi candles before I go... reminds us to not get too excited yet. We're still trending down... and the trend is our friend, until the end. Don't get liquidated folks! Make sure you've set your stop losses and buy-limits!
COINBASE:LINKUSD
by calmrat
ChainLink - Fibonacci Plays ✅ChainLink recent gave us an ascending correction which indicated to us that there's a correction coming for more upside or a reversal. In this case we saw a correction in the for of a descending ABC channel, which is currently showing rejection at the 618 fibonacci level. Trade Idea: - Watch for a break of the descending red trendline for entry - Put SL below the recent lows - Target the fibonacci levels indicated: 0 and -0.27. Once we're at the bigger wedge resistance, we'll be looking for shorts. See below: Goodluck!
by Altsignals
3
LINK - My Trading Plan in a picture!Hello everyone, if you like the idea, do not forget to support with a like and follow. on WEEKLY: left LINK is overall bullish trading above the blue trendline and is now approaching the 20.0 support in green, so we will be looking for trend-following buy setups. on H1: right LINK is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, LINK would be overall bearish can still trade lower inside the green support before going up. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
6
Possible Head and shoulders *LONG* Keep an I on the possibility of this being an outcome for Chainlink. Even though it has been on a pure uptrend testing it's highs and lows and pushing forward. There is always another side to every success story. No matter what I believe, Chainlink will push through eventually. Keep an eye on resistance levels through the week. $27 specifically, if we find it causing resistance it is possible we can end back up we we are currently sitting at $22 - $22. 40 . Which in turn if this forms the infamous H&S , this may in turn push us further down to the $19- $17 range. Just hypothetical but possible. Good luck and Happy Tuesday!!
LLong
by Brother-Doug